{"id":81019,"date":"2023-12-05T07:00:00","date_gmt":"2023-12-05T07:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/?post_type=issue&#038;p=81019"},"modified":"2025-12-15T09:59:04","modified_gmt":"2025-12-15T09:59:04","slug":"the-uae-banking-sector-to-mobilize-aed-1-tn-in-climate-finance-by-2030","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/climate\/issues\/the-uae-banking-sector-to-mobilize-aed-1-tn-in-climate-finance-by-2030\/","title":{"rendered":"The UAE banking sector to mobilize AED 1 tn in climate finance by 2030"},"content":{"rendered":"<section id=\"81021\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"81021\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TODAY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/today-uaes-banking-sector-agrees-to-mobilize-aed-1-tn-in-climate-finance\/\">\r\n                            TODAY: UAE\u2019s banking sector agrees to mobilize AED 1 tn in climate finance                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/today-uaes-banking-sector-agrees-to-mobilize-aed-1-tn-in-climate-finance\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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So unless you\u2019ve been living under a rock\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HERE\u2019S THE COP28 GUIDE- <\/strong><a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/11\/1733.pdf\" style=\"\" rel=\"noopener\">Click here to check out handy guide (pdf)<\/a> for the main thematic days and what to expect. Head to the official <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/schedule\" style=\"\" rel=\"noopener\">events schedule<\/a> for a full rundown of all the panels, workshops, discussions, debates, and keynote speeches. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DAYS TO LOOK FORWARD TO-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>6 December: <\/strong>Transport<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>10 December:<\/strong> Food, Agriculture, and Water<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>10-11 December:<\/strong> Final Negotiations<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HAPPENING TODAY-<\/strong><strong>Energy and Industry + the Just Transition. <\/strong>Discussions will focus on how to achieve rapid decarbonization and a just energy transition across the wider spectrum of energy and industrial value chains. Key topics will include boosting the deployment of renewable energy, unlocking greater energy efficiency, innovation and action for hard-to-abate sectors including steel and aluminum, and the decarbonization of oil and gas supplies including methane abatement and carbon management tech.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO KICKING OFF TODAY- THE <\/strong><strong><a target=\"_blank\" href=\"https:\/\/greenhydrogensummitoman.com\/\" style=\"\" rel=\"noopener\">Green Hydrogen Summit<\/a><\/strong><strong> is opening its doors and <\/strong><strong>running through to <\/strong><strong>Thursday, 14 December in Muscat.<\/strong> The two-day event will bring together green fuels developers, renewables companies, and policy makers in a bid to chart a course toward carbon-neutrality by 2050. Aside from the conference, the summit will also include <a target=\"_blank\" href=\"https:\/\/greenhydrogensummitoman.com\/masterclass-workshop-offer\/\" style=\"\" rel=\"noopener\">masterclasses<\/a> delving into the specifics of the green hydrogen value chain, from green electricity production to H2 production, distribution and storage. You can register for the event <a target=\"_blank\" href=\"https:\/\/greenhydrogensummitoman.com\/registration-2023\/\" style=\"\" rel=\"noopener\">here<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THERE\u2019S A BIG CLIMATE STORY (OTHER THAN COP) OUTSIDE THE REGION- Death toll from Tanzania flooding on the rise: <\/strong>The combined <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/680f2e7e-93a5-401f-8562-ffdd0456b34b\" style=\"\" rel=\"noopener\">impact of the El Ni\u00f1o<\/a> and the Indian Ocean Dipole climate phenomena have led to severe seasonal flooding in Tanzania over the weekend, killing at least 57 people as of yesterday and disrupting the lives of over 5.6k people in the country. The \u2018 <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/once-in-a-century-flooding-swamps-somalia-after-historic-drought-un-2023-11-10\/\" style=\"\" rel=\"noopener\">once in a century<\/a> \u2019 torrential rains have similarly displaced thousands of people in Kenya, Somalia, and Ethiopia since flooding began in November. Tanzania\u2019s President Samia Suluhu Hassan cut her COP28 trip short yesterday to return and manage the crisis unfolding. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story grabbed headlines in the international press:<\/strong><a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-africa-67607597\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/tanzania-flood-landslide-death-toll-rises-over-50-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-04\/tanzanian-landslide-brings-east-africa-s-el-nino-deaths-to-300?leadSource=uverify%20wall\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.france24.com\/es\/minuto-a-minuto\/20231204-mueren-47-personas-por-deslizamientos-de-tierra-en-el-norte-de-tanzania\" style=\"\" rel=\"noopener\">France 24<\/a><a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/12\/04\/africa\/east-africa-floods-more-than-300-killed-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2023\/dec\/03\/people-killed-and-injured-by-landslides-in-tanzania\" style=\"\" rel=\"noopener\">The Guardian<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BRIEF LOOK AT COPLAND- USD 57 bn in climate pledges made so far at COP28: <\/strong>Governments, businesses, NGOs and donors have pledged over USD 57 bn in commitments towards tackling climate change over the first four days of COP28, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apyusqg-cop28-mobilises-over-57-billion-first-four-days\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where\u2019s the USD 57 bn going? <\/strong><\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c38062de-1e3b-4040-9659-b18d79b3f683\" style=\"\" rel=\"noopener\">USD 30 bn<\/a> to launch the climate finance vehicle Alterra<\/li>\n<li>USD 725 mn to the recently operational Loss and Damage Fund <\/li>\n<li>USD 3.5 bn to the Green Climate Fund<\/li>\n<li>USD 9 bn from the World Bank to finance climate projects globally<\/li>\n<li>USD 150 mn to water security projects<\/li>\n<li>USD 2.7 bn to climate-health projects<\/li>\n<li>USD 2.6 bn to biodiversity and nature protection<\/li>\n<li>USD 2.6 bn to food systems transformation<\/li>\n<li>USD 2.5 bn to renewable energy<\/li>\n<li>USD 1.2 for methane emission reduction<\/li>\n<li>USD 1.2 for relief, recovery and peace initiatives <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And another USD 1.7 bn raised for biodiversity conservation from the UAE: <\/strong>The COP28 presidency said it has raised an initial USD 1.7 bn to fund biodiversity and conservation initiatives in forests and oceans, <a target=\"_blank\" href=\"https:\/\/www.khaleejtimes.com\/cop\/cop28-gathers-2-4-billion-in-funds-to-focus-on-forests-oceans-and-ntds\" style=\"\" rel=\"noopener\">Khaleej Times<\/a> reported, citing UN Climate Change High-Level Champion for COP28 Razan Khalifa Al Mubarak. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global <\/strong><strong>donors also pledged USD 777 mn to put an end to neglected tropical diseases: <\/strong>Global donors and philanthropists pledged over USD 777 mn to support efforts to eradicate neglected tropical diseases (NTDs) in Africa on COP28\u2019s Health Day, according to a <a target=\"_blank\" href=\"https:\/\/www.reachingthelastmile.com\/news\/3390\/\" style=\"\" rel=\"noopener\">statement<\/a>. The Reaching the Last Mile Forum (<a target=\"_blank\" href=\"https:\/\/www.reachingthelastmile.com\/rlm-fund\/\" style=\"\" rel=\"noopener\">RLMF<\/a>) \u2014 a multi-donor fund launched in 2017 to end NTDs \u2014 will also expand from USD 100 mn to USD 500 mn, the statement said. Among the donors is the <a target=\"_blank\" href=\"https:\/\/www.gatesfoundation.org\/ideas\/media-center\/press-releases\/2023\/12\/reaching-the-last-mile-ntds-cop28#:~:text=matching%20the%20Gates%20Foundation%E2%80%99s%20%24100m%20commitment%2C%20represents%20a%20five%2Dfold%20increase%20over%20the%20contributions%20made%2C%20respectively%2C%20to%20the%20fund%20at%20its%20launch.\" style=\"\" rel=\"noopener\">Gates Foundation<\/a>, which has pledged to contribute USD 100 mn to the fund. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>IMF CHIEF CALLS FOR UPPING CARBON PRICING- <\/strong>The International Monetary Fund (IMF) has called for raising the trading price of carbon in efforts to incentivize the world\u2019s biggest polluters to accelerate their decarbonization efforts, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/imf-head-says-high-carbon-price-is-best-incentive-decarbonisation-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing comment made by IMF Managing Director Kristalina Georgieva. Raising the price of carbon can help collect alternative funds for climate action without drowning developing countries in green debt, Georgieva argues. The price of carbon needs to more than double to average at least USD 75 \/ ton by 2030 for global climate goals to succeed, she told Reuters <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d5813fa3-e5df-412a-b820-771cd069aad5\" style=\"\" rel=\"noopener\">over the weekend<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Carbon prices are slowly picking up, and the EU is heading the way:<\/strong> Georgieva\u2019s call for higher pricing during COP28 comes after the IMF <a target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/Blogs\/Articles\/2023\/11\/27\/world-needs-more-policy-ambition-private-funds-and-innovation-to-meet-climate-goals\" style=\"\" rel=\"noopener\">increased its average carbon pricing<\/a> forecast by 10% to USD 85 a ton by 2030. The ETS registered the largest increases in the price of carbon in 2022, with prices reaching EUR 100 for the first time, according to the World Bank\u2019s State and Trends in Carbon Pricing 2023 <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/183.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>. Carbon prices were reduced by up to 35% in some countries, and about a third have the same prices, while less than 15% declined. California currently prices carbon allowances at just under USD 30 \/ ton, Reuters notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Carbon markets have a high potential to cut emissions:<\/strong> At the opening session of the G20 summit in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/e86297bd-d808-4c61-8fca-9c5181890f69\" style=\"\" rel=\"noopener\">September<\/a>, Von der Leyen said that the EU's \u201cEmissions Trading System\u201d (ETS) has helped reduce emission by 35% since 2005, while generating more than EUR 152 bn in revenues, encouraging others to follow suit. There are currently 73 carbon pricing instruments in operation, covering around 23% of global greenhouse gas emissions. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The shipping sector\u2019s new ETS has been a target of calls to raise carbon prices: <\/strong>The EU\u2019s ETS reforms <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/5f03a85f-73aa-42fd-8917-3a7a1bf86025\" style=\"\" rel=\"noopener\">approved earlier this year<\/a> \u2014 which added shipping emissions to the carbon market from 2024 \u2014 is likely to be traded at <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/25dfea3c-2f04-466c-af8f-e348262ed377\" style=\"\" rel=\"noopener\">EUR 90 per ton of CO2<\/a>. This price is too low to \u201cenable clean alternatives like green methanol to compete on price with fossil fuels in the near future,\u201d senior consultant at Drewry Stijn Rubens said. However, the carbon tax is \u201calmost certainly going to rise\u201d after 2024 as the EU updates its climate action strategies, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-11-21\/global-shipping-s-3-6-billion-carbon-bill-is-six-weeks-away?srnd=green\" style=\"\" rel=\"noopener\">Bloomberg<\/a> said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Others call for more investments:<\/strong> Ramping up investments in hydrocarbons is essential if the world is to avoid a \u201chigher pricing environment\u201d in its transition to green energy, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/cop28-uae-energy-minister-hydrocarbon-investment-necessary-avoid-high-prices-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing the UAE\u2019s Energy Minister Suhail al-Mazrouei. Without lower commodity and energy prices, the green transition efforts will be hampered, the minister warned during an event on the margins of COP28.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>JABER ON THE DEFENSE- Al Jaber denies disrespecting climate <\/strong><strong>science:<\/strong> In response to recent criticism for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c264753d-668d-4e38-9b22-1d444773be56\" style=\"\" rel=\"noopener\">denying the science<\/a> behind fossil fuel phase-out, COP President Sultan Al Jaber asserted that he \u201cunderstood and respected\u201d the science of climate change, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/cop28-president-denies-he-doesnt-respect-climate-science-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Al Jaber said that reports of him saying there is \u201cno science\u201d that proves a phase-out of fossil fuel production is needed to restrict global heating to 1.5 C, was taken out of context and circulated baselessly. \"I am quite surprised with the constant and repeated attempts to undermine the work of the COP28 presidency,\" Al Jaber said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND AL IS NOT A FAN- Al Gore lambasts COP28 host UAE over soaring emissions:<\/strong>Former US Vice President Al Gore called out the UAE over its increasing greenhouse gas emissions, which he said rose by 7.5% in 2022 from the preceding year, compared to an average increase of 1.5% worldwide, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/environment\/al-gore-slams-cop28-climate-summit-host-uae-says-its-emissions-soared-2023-12-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Moreover, Al Gore criticized the COP28 presidency, saying that the UAE is abusing public trust by appointing the CEO of Adnoc \u2014 one of the \u201clargest and least responsible\u201d oil companies in the world \u2014 as head of the summit. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SPEAKING OF EMISSIONS- GCCA cuts CO2 emissions by 23%:<\/strong> The Global Cement and and Concrete Association (GCCA) has seen a 23% drop in CO2 emission intensity of cement related material compared to levels in 1990, according to their latest <a target=\"_blank\" href=\"https:\/\/gccassociation.org\/news\/new-report-highlights-decarbonisation-progress-of-global-cement-industry-as-world-leaders-debate-climate-action-at-cop28\/\" style=\"\" rel=\"noopener\">report<\/a>. The drop is due to the development of carbon capture and storage projects (CCS), the increased use of alternative energy sources, and tech development to produce low carbon cement, the report said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Global decarbonization projects are in the works:<\/strong> The GCCA is looking to CCS to account for 36% of the global cement industry\u2019s CO2 reductions, with plans to develop CCS plants in Breedon in the UK, Heidelberg Materials in Germany, Holcim in Switzerland, Taiheiyo Cement in Japan, and TITAN Cement Group in Greece. The GCCA\u2019s efforts to cut emissions also include increasing solar power in the US, India, and Taiwan, using hydrogen at a cement plant in Honduras, and having an Indian plant utilize bamboo, a source that India plans to use for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8dabd20c-ed93-4126-917f-6f3cf27a2116\" style=\"\" rel=\"noopener\">biofuel production<\/a> next year. Other advancements involve swapping the carbon intensive element clinker for calcined clay, making use of non-recyclable waste for cement plants, and rehabilitation of local environments. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt4\"><\/a>STAY TUNED FOR THIS- Canada, Egypt, Brazil to crack down on methane emissions:<\/strong> Canada \u2014 the world\u2019s <a target=\"_blank\" href=\"https:\/\/www.capp.ca\/economy\/canadas-oil-and-natural-gas-production\/\" style=\"\" rel=\"noopener\">fourth largest<\/a> oil producer \u2014 has released its draft regulations for its oil and gas industry aimed at slashing methane emissions, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/canada-brazil-egypt-announce-new-methane-regulations-monday-us-official-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. The proposed rules will target cutting methane emissions from the polluting industry to prevent 217 mn tons of emissions from being released into the air between 2027 and 2040, Canadian Environment Minister Steven Guilbeault said. Egypt and Brazil are expected to follow suit and issue regulations on methane emissions. The three countries \u2014 along with over 147 others \u2014 are among the <a target=\"_blank\" href=\"https:\/\/www.globalmethanepledge.org\/\" style=\"\" rel=\"noopener\">2021 Global Methane Pledge<\/a> signatories who have vowed to cut methane emissions by 30% by the end of this decade. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>THERE\u2019S A LOT OF SAUDI UPDATES- KSA plans to install 20 GW of renewables<\/strong><strong> in 2024: <\/strong>SaudiArabiaplans to launch renewable energy projects with a total capacity of 20 GW next year, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/57740\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B7%D8%B1%D8%AD-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D8%A7%D8%AA-%D8%B7%D8%A7%D9%82%D8%A9-%D9%85%D8%AA%D8%AC%D8%AF%D8%AF%D8%A9-%D8%A8%D9%82%D8%AF%D8%B1%D8%A9-20-%D8%BA%D9%8A%D8%BA%D8%A7%D9%88%D8%A7%D8%B7-%D9%81%D9%8A-2024\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing Minister of Energy Prince Abdulaziz bin Salman. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Major renewable energy projects: <\/strong>KSA is set to tender a new contract for the construction of four high-efficiency gas-powered energy stations with a production capacity of 7 GW. Different projects with a total capacity of 21 GW are also underway as part of the <a target=\"_blank\" href=\"https:\/\/www.greeninitiatives.gov.sa\/sgi-forum\" style=\"\" rel=\"noopener\">Saudi Green Initiative<\/a>, which is implementing 80 new initiatives and has achieved over USD 188 bn in investments. The country\u2019s renewable energy production has reached 2.8 GW so far. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi goes all in on carbon capture: <\/strong>KSA has plans to develop two industrial centers, one focused on carbon capture and storage (CCS) with a production capacity of 44 mn tons annually, and the other is a carbon capture and utilization (CCU) facility with a capacity exceeding 1 mn tons yearly.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also news from Neom: Construction work on phase one of <\/strong><strong>N<\/strong><strong>eom\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3b430e5e-0bba-4e79-b49f-6b1a0240542d\" style=\"\" rel=\"noopener\">mega green<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/3b430e5e-0bba-4e79-b49f-6b1a0240542d\" style=\"\" rel=\"noopener\">hydrogen plant<\/a><\/strong><strong> has been completed<\/strong>, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/ycyxxz6b\" style=\"\" rel=\"noopener\">Asharq Al Awsat<\/a> reported, citing statements by Energy minister Prince Abdulaziz bin Salman at the Saudi Green Initiative forum at COP28. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>ALSO- The kingdom has allocated investments worth USD 188 bn to address the <\/strong><strong>challenges of climate change<\/strong>, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/yz2czayw\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, quoting Foreign Minister and Climate Envoy Adel Al Juber as saying on the sidelines of the Saudi Green Initiative Forum. \u201cWe\u2019re working on multiple projects to combat climate change, including carbon capture [projects],\u201d he said. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"climate\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">***<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>YOU\u2019RE READING ENTERPRISE CLIMATE, the essential MENA publication for senior execs who care about the world\u2019s most important industry. <\/strong>We\u2019re out Monday through Thursday by 9am Cairo \/ 10am Riyadh \/ 11am UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EXPLORE MORE OF ENTERPRISE ON THE WEB \u2014<\/strong><a target=\"_blank\" href=\"http:\/\/www.enterprise.news\" style=\"\" rel=\"noopener\">tap or click here<\/a> to read EnterpriseAM, EnterprisePM, Enterprise Climate, Enterprise Logistics, and The Weekend Edition on our powerful new website packed with reader-friendly features. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Were you forwarded this email? <strong>Get your own <\/strong><strong><a target=\"_blank\" href=\"https:\/\/climate.enterprise.news\/climate\/en\/user\/NewsLetters\" style=\"\" rel=\"noopener\">subscription without charge here<\/a><\/strong> or reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">climate@enterprisemea.com<\/a> with comments, suggestions and story tips.<br \/><strong>***<\/strong><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia will host the<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\" rel=\"noopener\">Future Minerals Forum<\/a><\/strong><strong> from Tuesday, 9 January through to <\/strong><strong>Thursday, 11 January<\/strong> in Riyadh. The event will bring nations and private sectors together to enable the creation of resilient mineral value chains in the resource rich regions of Africa, Western Asia, and Central Asia. The forum will hold a ministerial roundtable with over 60 countries being represented., and delegates will discuss global critical mineral strategies as well as an international exhibition with over 150 exhibitors and industry sponsors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\" style=\"\" rel=\"noopener\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/carbon-emissions\/\">Carbon Emissions<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a 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<\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/the-uaes-banking-sector-to-mobilize-aed-1-tn-in-climate-finance-by-2030\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/221.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81025\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/the-uaes-banking-sector-to-mobilize-aed-1-tn-in-climate-finance-by-2030\/221-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/221.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"221.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/221.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/221.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81024\" class=\"content-area-description single-story post-81024 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch-finance tag-afdb tag-cop-watch-finance tag-enterpriseclimate tag-green-finance tag-uae tag-world-bank wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.76516fd4-5382-4de7-9425-d4189a3f6852.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Green finance bonanza at COP: <\/strong>Day 5 of COP28 concluded with a smattering of climate finance updates, with USD bns pledged in the financing towards emerging markets and a just energy transition. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE banking sector to mobilize <\/strong><strong>AED 1 tn<\/strong><strong> in climate finance by <\/strong><strong>2030<\/strong><strong>: <\/strong>UAE banking groups have committed to mobilizing AED 1 tn in green funding by the end of the decade, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apyustg-uae-financial-sector-mobilise-aed-trillion\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The AED 1 tn (c. USD 270 bn) climate financing pledge channeled by the country's <a target=\"_blank\" href=\"https:\/\/www.uaebf.ae\/en\/index\" style=\"\" rel=\"noopener\">National Banks Federation<\/a> (NBF) aims to help meet the UAE\u2019s 2050 net-zero target. The NBF is made up of 56 UAE-based lenders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Apicorp ups its 2023-2028 decarbonization investment target to USD 1 <\/strong><strong>bn<\/strong><strong>:<\/strong> The Arab Energy Fund \u2014 which earlier this week rebranded from Arab Petroleum Investments Corporation (Apicorp) \u2014 plans to invest USD 1 bn over the next five years in the green tech sector to support MENA\u2019s decarbonization efforts, according to a <a target=\"_blank\" href=\"https:\/\/www.apicorp.org\/news\/apicorp-rebrands-as-the-arab-energy-fund-unveils-new-strategy-and-plans-up-to-1bn-to-drive-decarbonization-technologies\/\" style=\"\" rel=\"noopener\">statement<\/a>. The company has allocated 18% of its USD 4.5 bn loan portfolio toward ESG projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why is this important?<\/strong> The company\u2019s planned investment, along with its rebrand, reflects a corporate strategy aimed at positioning itself as a regional player in the energy transition sector, the statement notes. Back in 2021, the company raised <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/sustainable-business\/apicorp-sells-750-million-debut-green-bonds-2021-09-29\/\" style=\"\" rel=\"noopener\">USD 750 mn<\/a> from its maiden green bond issuances. Later that year, the company reopened those bonds for subscription, raising another USD 250 mn. The company has already channeled USD 610 mn of the proceeds toward 11 regional projects. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>France <\/strong><strong>+ Japan back AfDB's SDR proposal:<\/strong> France and Japan announced during the roundtable event on leveraging Special Drawing Rights (SDRs) (<a target=\"_blank\" href=\"https:\/\/vimeo.com\/event\/3913870\" style=\"\" rel=\"noopener\">watchtime, 13:28, 17:50<\/a>) that they will support the African Development Bank\u2019s breakthrough facility to leverage SDRs for climate and development. The African Development Bank and the Inter-American Development Bank developed <a target=\"_blank\" href=\"https:\/\/www.afdb.org\/en\/news-and-events\/events\/leveraging-sdrs-climate-and-development-65954\" style=\"\" rel=\"noopener\">a proposal to channel SDRs<\/a> to multilateral development banks which SDR-rich countries were expected to support at COP28.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>Debt <\/strong><strong>clauses garner big support: <\/strong>TheUK, France, the World Bank, AfDB, EBRD, and the IDB have announced they will expand the use of climate-resilient debt clauses in their lending that pause debt when countries are hit by natural disasters, according to a <a target=\"_blank\" href=\"https:\/\/twitter.com\/COP28_UAE\/status\/1731619387608580314\" style=\"\" rel=\"noopener\">statement<\/a>. The UK also announced the first climate-resilient debt clauses in Africa with Senegal. Seventy-three countries have also called for the adoption of the debt clauses.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Climate funds are on the hunt for funds:<\/strong> Danish investment firm <a target=\"_blank\" href=\"https:\/\/www.cip.com\/\" style=\"\" rel=\"noopener\">Copenhagen Infrastructure<\/a><a target=\"_blank\" href=\"https:\/\/www.cip.com\/\" style=\"\" rel=\"noopener\">Partners<\/a> is looking to secure USD 3 bn for its new <a target=\"_blank\" href=\"https:\/\/www.cip.com\/funds\/growth-markets-fund\/\" style=\"\" rel=\"noopener\">Growth Markets Fund<\/a> II to establish renewable energy projects in emerging and middle-income countries, the head of the fund told <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/copenhagen-targets-3-bln-emerging-market-greenfield-renewables-fund-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. The fund will focus on wind and solar power and investments in battery storage and projects that turn electricity into carbon-neutral synthetic fuels. As most climate-focused funds target reliable returns in developed countries, the Growth Markets Fund will target investment returns \"in the teens\" to offer affordable power in developing countries. Emerging and middle-income countries will need USD 2.8 tn by 2030 to meet cleaner energy goals, out of which only USD 550 mn was raised this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>Green bonds on the horizon for Kenya:<\/strong> The Kenyan government is mulling sovereign green bond issuances, President William Ruto said in an interview on the sidelines of COP28. Ruto also said that Kenya \u2014 which is planting 15 bn trees and restoring 10k wetlands \u2014 is looking at issuing <a target=\"_blank\" href=\"https:\/\/www.cliffordchance.com\/briefings\/2023\/11\/debt-for-nature-swaps--a-new-generation.html\" style=\"\" rel=\"noopener\">debt-for-nature<\/a> swaps. (<a target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/kenya-to-consider-sovereign-green-bonds-to-fund-climate-projects-1.2006248\" style=\"\" rel=\"noopener\">Bloomberg<\/a>)<\/li>\n<li><strong>Italy <\/strong><strong>pledges mns to loss and damage fund:<\/strong> Italy is committing USD 100 mn to the Loss and Damage Fund, which reached a total of <a target=\"_blank\" href=\"https:\/\/www.cop28.com\/en\/news\/2023\/12\/CP28-mobilizes-over-57-billion-in-first-four-days\" style=\"\" rel=\"noopener\">USD 725 mn<\/a> in the first four days of COP28. (<a target=\"_blank\" href=\"https:\/\/x.com\/COP28_UAE\/status\/1730859170323161560?s=20\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Asian Development Bank to extend USD 10 bn to the Philippines: <\/strong>The Asian Development Bank (ADB) said it will earmark USD 10 bn in climate financing between 2024 and 2029 to the Philippines. The multilateral lender\u2019s package will be channeled toward carbon market development, green mobility, renewables, food security, and climate adaptation projects. (<a target=\"_blank\" href=\"https:\/\/www.adb.org\/news\/adb-program-10-billion-climate-finance-philippines\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Abu Dhabi will host the Global Climate Finance Centre:<\/strong> Abu Dhabi will host a think tank tasked with developing financial frameworks for investing in the green energy sector. The independent research organization \u2014 named Global Climate Finance Centre \u2014 is co-founded by the World Bank, HSBC, and asset managers BlackRock and Ninety One. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/cop28-abu-dhabi-teams-up-with-hsbc-others-climate-finance-think-tank-2023-12-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>)<\/li>\n<\/ul>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/afdb\/\">AfDB<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop-watch-finance\/\">COP WATCH - FINANCE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-finance\/\">green finance<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/world-bank\/\">World Bank<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81026\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"81026\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">COP WATCH - AGREEMENTS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/uaes-enec-inks-agreements-with-ge-hitachi-and-bill-gates-terrapower-masdar-expands-in-kazakhstan-and-poland\/\">\r\n                            UAE\u2019s ENEC inks agreements with GE Hitachi and Bill Gates\u2019 Terrapower + Masdar expands in Kazakhstan and Poland                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a 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decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/214.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81027\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/uaes-enec-inks-agreements-with-ge-hitachi-and-bill-gates-terrapower-masdar-expands-in-kazakhstan-and-poland\/214-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/214.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"214.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/214.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/214.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81026\" class=\"content-area-description single-story post-81026 post type-post status-publish format-standard has-post-thumbnail hentry category-cop-watch-agreements tag-beeah tag-cop-watch-agreements tag-cop28 tag-enec tag-enterpriseclimate tag-green-hydrogen tag-hydropower tag-masdar tag-morocco tag-nuclear-energy tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.cb8d4701-62c2-4468-826a-52f14d4daed2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Nuclear was the theme of the day with some big moves emerging from the<\/strong><strong> UAE. <\/strong>The Emirates Nuclear Energy Corporation (ENEC) \u2014 co-developer of the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/40d52d47-6d41-4d1e-a45f-5c1d2e83c6cf\" style=\"\" rel=\"noopener\">UAE\u2019s 5.6 GW Barakah Nuclear Plant<\/a> \u2014 inked agreements with several firms widening its foothold in the industry, and Masdar continued building its international portfolio.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NUCLEAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>UAE and Bill Gates\u2019 TerraPower partner on nuclear development: <\/strong>ENEC signed an MoU with Bill Gates\u2019 nuclear technologies company TerraPower to explore the use of the latter\u2019s <a target=\"_blank\" href=\"https:\/\/www.terrapower.com\/our-work\/natriumpower\/\" style=\"\" rel=\"noopener\">Natrium<\/a> advanced atomic reactors in the UAE and abroad, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/12lhh8m-enec-terrapower-accelerate-nuclear-technology\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s so special about these reactors?<\/strong> Terra Power\u2019s Natrium has a 345 MW electric (MWe) sodium <a target=\"_blank\" href=\"https:\/\/www.energy.gov\/ne\/articles\/nuclear-101-how-does-nuclear-reactor-work\" style=\"\" rel=\"noopener\">nuclear reactor<\/a>. The technology is combined with thermal molten salt energy storage that allows the reactor\u2019s capacity to reach 500 MWe for more than five hours, the company <a target=\"_blank\" href=\"https:\/\/www.terrapower.com\/our-work\/natriumpower\/\" style=\"\" rel=\"noopener\">explains<\/a>. For the small reactors, the thermal storage system enables power consumers to take advantage of peaking power windows driven by fluctuations in renewables. TerraPower is working on a pilot project \u2014 set to be launched in 2030 \u2014 that will use Natrium to retire a coal plant in Wyoming. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>For the UAE and beyond: <\/strong>Enec and TerraPower will first collaborate on technical design and study commercial viability of the reactor in the UAE and US, assessing the technology\u2019s applications in nuclear, hydrogen, and green molecule production. Both sides will also partner on engineering, workforce, and supply chain development, with hopes of later expanding further into the Middle East, Africa and the Indian subcontinental regions, Wam notes. Enec would commercialize the Natrium tech regionally under licensing agreements with TerraPower under the <a target=\"_blank\" href=\"https:\/\/www.iea.org\/policies\/17310-pace-uae-us-clean-energy-strategic-partnership\" style=\"\" rel=\"noopener\">US\u2013UAE PACE program<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN OTHER ENEC NEWS \u2013<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company is also partnering with<\/strong><strong> GE Hitachi: <\/strong>ENEC signed an MoU with GE Hitachi to explore investment in Small Modular Reactor technology to boost the use of nuclear energy in the UAE, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apy9dgo-enec-hitachi-sign-mou-for-potential-investment-and\" style=\"\" rel=\"noopener\">Wam<\/a> reports. In September, GE Hitachi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/90b0a00d-c200-4bb3-a964-1089b01598b2\" style=\"\" rel=\"noopener\">provided ENEC<\/a> with an enabling framework for developing small modular reactors based on its Nuclear Energy\u2019s BWRX-300 SMR technology, as part of an agreement with Orlen Synthos Green Energy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And has agreed to source some of its uranium from Kazakhstan:<\/strong> Kazakhstan's National Atomic Company (NAC) <a target=\"_blank\" href=\"https:\/\/www.kazatomprom.kz\/en\/\" style=\"\" rel=\"noopener\">Kazatomprom<\/a> signed an agreement with ENEC to supply uranium fuel for the latter\u2019s Barakah nuclear energy plant, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apyushs-enec-signs-commercial-uranium-contract-with\" style=\"\" rel=\"noopener\">Wam<\/a> reports. This marks the first commercial uranium fuel supply contract for the UAE company. Kazakhstan is the world's largest uranium producer, producing 40% of the world's uranium supplies.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MASDAR\u2019S SWEEP CONTINUES-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Masdar <\/strong><strong>is making a hydropower debut in Kyrgyzstan: <\/strong>Masdar and France's <a target=\"_blank\" href=\"https:\/\/www.edfenergy.com\/\" style=\"\" rel=\"noopener\">EDF<\/a> signed an agreement with Kyrgyzstan\u2019s Ministry of Energy to establish 3.6 GW of hydropower and renewable energy projects, according to a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/masdar-and-edf-sign-major-agreement-to-develop\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement marks Masdar's debut in the hydropower sector and builds on Masdar's <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/b807b8a9-5161-4807-94f6-c93b757d32ac\" style=\"\" rel=\"noopener\">previous agreement<\/a> with Kyrgyzstan's energy ministry to develop up to 1 GW of clean energy projects in the Central Asian country. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s also a European portfolio expansion happening: <\/strong>Masdar and Finnish renewable energy developer and fund manager <a target=\"_blank\" href=\"https:\/\/www.taalerienergia.com\/en\" style=\"\" rel=\"noopener\">Taaleri Energia<\/a> acquired eight hybrid renewable energy projects totaling 1 GW from Polish renewable energy developer <a target=\"_blank\" href=\"https:\/\/domrel.pl\/\" style=\"\" rel=\"noopener\">Domrel<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/masdar.ae\/en\/news\/newsroom\/masdar-expands-european-presence-with-acquisition-of-1gw-renewable-portfolio\" style=\"\" rel=\"noopener\">statement<\/a>. The projects include both solar and onshore wind farms expected to come online between 2026 and 2030. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN HYDROGEN-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bee\u2019ah<\/strong><strong> debuts plans for waste-to-hydrogen plant:<\/strong>Emirati waste management company Bee\u2019ah has signed a joint development agreement with US- and UK-based waste-to-energy focused tech company <a target=\"_blank\" href=\"http:\/\/www.chinooksciences.com\/hydrogen\" style=\"\" rel=\"noopener\">Chinook Sciences<\/a> and Japanese gas conglomerate <a target=\"_blank\" href=\"https:\/\/www.awi.co.jp\/en\/index.html\" style=\"\" rel=\"noopener\">Air Water<\/a> to develop a waste-to-hydrogen plant in Sharjah, <a target=\"_blank\" href=\"https:\/\/wam.ae\/article\/apyusks-beeah-chinook-hydrogen-and-air-water-gas-solutions\" style=\"\" rel=\"noopener\">Wam<\/a> reports. The plant will be the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/583ec15e-b334-4789-a363-b7ce17c5a7a1\" style=\"\" rel=\"noopener\">first of its kind in MENA<\/a>, producing 18k kg per day. The proposed timeframe for the project was not disclosed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A successful pilot:<\/strong> The agreement builds on a demonstration plant run by the companies, which successfully processed organic waste \u2014 including municipal solid waste, non-recyclable plastics, and wood waste \u2014 into green hydrogen. The green fuel produced will be used for hydrogen-powered fuel cells made by Toyota, the news outlet added. The fuel cells \u2014 called PEM fuel cells \u2014 are being developed primarily for a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/583ec15e-b334-4789-a363-b7ce17c5a7a1\" style=\"\" rel=\"noopener\">fleet of large trucks and buses<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND ANOTHER INTERCONNECTION PROJECT- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco <\/strong><strong>and Portugal partner on electricity interconnector:<\/strong> Morocco and Portugal signed a joint declaration on the electrical interconnection project between Rabat and Lisbon, <a target=\"_blank\" href=\"https:\/\/bitly.ws\/34nN2\" style=\"\" rel=\"noopener\">Map<\/a> reports. The agreement aims to boost cooperation on renewable energy as well as energy exchange between Africa and Europe. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Morocco\u2019s renewables export ambitions are already in play:<\/strong> The Xlinks interconnector project will lay 3.8k km high-voltage direct current (HVDC) subsea cable to eventually transport <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\" style=\"\" rel=\"noopener\">3.6 GW of renewable energy<\/a> \u2014 nearly 8% of the UK\u2019s current requirements \u2014 from a 10.5 GW solar and wind farm in Morocco\u2019s Guelmim-Oued Noun region to Britain\u2019s power grid in Devon.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CLIMATE DIPLO NEWS- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oman and Morocco signed an agreement to collaborate on the energy transition<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.omannews.gov.om\/topics\/ar\/3\/show\/426441\" style=\"\" rel=\"noopener\">Oman<\/a><a target=\"_blank\" href=\"https:\/\/www.omannews.gov.om\/topics\/ar\/3\/show\/426441\" style=\"\" rel=\"noopener\">News Agency<\/a> reports. The agreement entails cooperation on climate change, environmental governance, monitoring and environmental assessment, and waste and chemicals management. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/beeah\/\">Bee\u2019ah<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop-watch-agreements\/\">COP WATCH - AGREEMENTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/cop28\/\">COP28<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" 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Director for Climate Business\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Coffee+with%3A+Jamie+Fergusson%2C+IFC%E2%80%99S+Global+Director+for+Climate+Business+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F05%2Fcoffee-with-jamie-fergusson-ifcs-global-director-for-climate-business%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/coffee-with-jamie-fergusson-ifcs-global-director-for-climate-business\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/236.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81030\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/coffee-with-jamie-fergusson-ifcs-global-director-for-climate-business\/236-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/236.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"236.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/236.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/236.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81029\" class=\"content-area-description single-story post-81029 post type-post status-publish format-standard has-post-thumbnail hentry category-coffee-with-2 tag-coffee-with-5 tag-enterpriseclimate tag-gcc tag-ifc tag-mena wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.b2775849-e1da-4d4c-b8c9-de731deec5de.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Coffee with: Jamie Fergusson, IFC\u2019S Global Director for Climate Business: <\/strong>Fergusson (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/jamiejfergusson\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) is responsible for IFC\u2019s climate strategy and policies and the delivery of its ambitious targets to make all investments Paris Aligned and 40% of its investment climate positive. IFC committed a record USD 14.4 bn in climate finance in FY23, representing 46% of all long-term finance investments. Last July, IFC began aligning all investment operations to the Paris Agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We had a brief chat with Fergusson on the opening day of COP28 to discuss the significance of this year\u2019s summit<\/strong>, where the world stands on issues of urgency, what areas IFC will be focusing on, and what needs to be accomplished to achieve the targets set out in the 2015 Paris Agreement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Edited and condensed excerpts of our conversation follow.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHERE THE IFC STANDS TODAY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">As the only private sector focused development institution, we\u2019re tackling three dilemmas. One is building a project pipeline \u2014 there\u2019s not enough investable opportunities in emerging markets. The next area is making it affordable and mobilizing in emerging markets by bringing in new technologies where they may not be affordable yet and derisking for investors with blended capital, and the third area is mobilizing that capital.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We\u2019re doing that at scale. We have a USD 32 bn pipeline of new projects under development and over the last decade, IFC has invested in 22 GW of renewables. IFC\u2019s role across markets is to do first-of-kind projects \u2014 including solar projects in Egypt and wind projects in Jordan \u2014 and then scale from multiple small investments and larger wholesale projects.In the last year we invested in the Abydos solar and the Amunet wind projects with UAE\u2019s Amea Power with a USD 770 mn investment. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHAT\u2019S TOP OF THE AGENDA AT COP28-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">This summit is important because we're at the midway point between the 2015 Paris Agreement and the targets countries undertook under the Paris Agreement for 2030. The focus of this COP is a global stocktake \u2014 which should be a shock to everyone\u2019s system \u2014 as it is the global report card telling us that we're off track. The outlook by the end of the century has moved from about 3\u00b0C to 2.5\u00b0C change, but that's still way off where we need to be. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">For IFC, heading into COP, water is at the top of our agenda and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/310cccc9-39db-4d4a-bea6-0a3f48f3a5e3\" style=\"\" rel=\"noopener\">decarbonizing hard-to-abate industries<\/a>. We've got to move to the hard middle \u2014 people are stopping financing coal, people are doing more of the green bonds and renewable energy, but there's the whole of the rest of the economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WHAT IS NEEDED-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">We need increased pricing on carbon, increased renewable energy procurement, and increased blended finance to get the most from the private sector to move to scale. We need to scale the urgency of action to achieve a 43% reduction in GHGs by 2030 which requires a complete rewiring of the global economy and approximately USD 2. 4 tn of investment per year, specifically in emerging markets. 80% of that has to come from the private sector and we need a tripling of annual investments in renewable energy. At the moment, only 20% of that is in emerging markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Adaptation investment requires approximate USD 400 bn a year, which is a sort of 5-10x increase from current levels. The IFC's strategy in this context is to catalyze and accelerate the transition to a low carbon, resilient, inclusive growth in emerging markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">Since the Paris agreement, IFC has increased our climate finance threefold and increased our climate mobilization of other private capital six fold. Last year, we committed just shy of USD 15 bn of climate finance accounting for 46% of our own business. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN BONDS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">IFC acts as an issuer and standard setter, but also as a buyer. Last year, we purchased between USD 4.6 bn in labeled bonds across markets. We\u2019ve played a role as an early issuer with IFC's own capital, issuing USD 13 bn in green bonds over the years to move the market out. We\u2019ve also acted as a capacity builder, training over 285 financial intermediaries in 70 different countries on how to issue green bonds, providing guidance on what green and blue bonds, and in general what biodiversity finance looks like to regulators. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The labeled bond market in emerging markets is now over USD 300 bn per year and last year we helped The Jordan Kuwait Bank issue Jordan's <a target=\"_blank\" href=\"https:\/\/www.jkb.com\/en\/news\/jordan-kuwait-bank-issues-the-first-green-bond-in-jordan\" style=\"\" rel=\"noopener\">first USD 50 mn green bond<\/a> and we\u2019re also active in Egypt and Morocco.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN BUILDINGS-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">IFC has committed nearly USD 12 bn of our own capital into the <a target=\"_blank\" href=\"https:\/\/edge.gbci.org\/\" style=\"\" rel=\"noopener\">Edge certification program<\/a> for green buildings, replicated by a third of a further USD 5 bn in private investment. We find this to be vital, because the certification requires a 20% reduction in energy use, a 20% reduction in water use, and 20% reduction in the embodied carbon in the building itself. IFC has a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/552e8d92-3609-4003-b1e3-0d4ac82081be\" style=\"\" rel=\"noopener\">partnership with the Amman municipality<\/a> in Jordan to drive green buildings growth with Edge, and on a wider scope we've built capacity across markets and provided financing to banks for green mortgages and lending and financing directly to real estate developers. As a result, 60 mn square meters across 96 countries is currently certified to be as green as Edge requires. About USD 1.5 tn is needed to invest in green buildings in the next decade.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/coffee-with-5\/\">COFFEE WITH\u2026<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/gcc\/\">GCC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/ifc\/\">IFC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/mena\/\">MENA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81031\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"81031\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">GEOTHERMAL<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/\">\r\n                            Adnoc + Tabreed launch operations of region\u2019s first geothermal cooling plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Adnoc + Tabreed launch operations of region\u2019s first geothermal cooling plant&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/&title=Adnoc + Tabreed launch operations of region\u2019s first geothermal cooling plant\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Adnoc+%2B+Tabreed+launch+operations+of+region%E2%80%99s+first+geothermal+cooling+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F05%2Fadnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/207.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81032\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/adnoc-tabreed-launch-operations-of-regions-first-geothermal-cooling-plant\/207-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/207.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"207.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/207.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/207.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81031\" class=\"content-area-description single-story post-81031 post type-post status-publish format-standard has-post-thumbnail hentry category-geothermal tag-adnoc tag-district-cooling tag-enterpriseclimate tag-geothermal tag-tabreed tag-uae tag-water wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.10c8eddd-9a12-4054-a800-788731272ee2.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Operations for the MENA region\u2019s first geothermal cooling plant located in Abu Dhabi\u2019s <\/strong><strong>Masdar City has officially commenced<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-and-tabreed-commence-operations-at-regions-first-geothermal-cooling-plant-in-masdar-city\" style=\"\" rel=\"noopener\">press release<\/a> by project co-developer Abu Dhabi National Oil Company (Adnoc). The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8554b8c3-1451-4236-b62a-a9f9ed60cb33\" style=\"\" rel=\"noopener\">G2COOL plant<\/a> will produce chilled water needed by UAE\u2019s National Central Cooling Company (Tabreed) for its district cooling activities. The project will be funded under Adnoc\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/95eabfa9-dc3c-4f10-a5ef-a931cd4e4d6c\" style=\"\" rel=\"noopener\">USD 15 bn allocation<\/a> towards developing low-carbon power solutions.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will it work? <\/strong>The plant will extract water from underground wells at temperatures exceeding 90\u00b0C and flow rates nearing 100 liters per second. The water will then be rerouted to an <a target=\"_blank\" href=\"https:\/\/www.sciencedirect.com\/topics\/engineering\/absorption-cooling\" style=\"\" rel=\"noopener\">absorption cooling system<\/a> to chill it before sending it to Tabreed\u2019s district cooling network at Masdar City. The geothermal energy project is set to meet 10% of Masdar City\u2019s cooling needs, the statement notes. In August, Adnoc and Tabreed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8554b8c3-1451-4236-b62a-a9f9ed60cb33\" style=\"\" rel=\"noopener\">concluded testing<\/a> on two geothermal wells in Abu Dhabi\u2019s Masdar City.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- Adnoc and Masdar are teaming up on geothermal energy production:<\/strong> Back in March, Adnoc <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/606014b5-eb0c-47e5-8d3a-8446eaf50037\" style=\"\" rel=\"noopener\">signed a five-year agreement<\/a> with UAE renewables giant Masdar to explore potential investment and development in the geothermal power sector, with Adnoc serving as Masdar\u2019s drilling technical expert. In February, Masdar <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c0e6a33d-90d1-43dd-93ef-aa4e29a5d598\" style=\"\" rel=\"noopener\">acquired shares<\/a> in the geothermal unit of Indonesia\u2019s state-owned energy firm Pertamina, which plans to generate 600 MW of geothermal power by 2028.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The rest of the region is trying to catch up: <\/strong>In October,Saudi Arabia\u2019s oil giant Aramco said it is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/c4f5f142-3e4e-41d5-be7b-6c6eaca21cd0\" style=\"\" rel=\"noopener\">considering tapping into geothermal energy<\/a>, with three potential areas on the west coast of the kingdom identified and mapped for the technology. KSA\u2019s Industrialization and Energy Services Company (Taqa) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d285a31d-e4c9-4ea0-b5b3-0d9db0b73528\" style=\"\" rel=\"noopener\">signed a joint venture agreement<\/a> with Iceland\u2019s Reykjavik Geothermal to establish the Taqa Geothermal Energy Company in Riyadh. Countries across the region including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8554b8c3-1451-4236-b62a-a9f9ed60cb33\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/cd06b96d-2941-4b4b-994d-e7a80296f885\" style=\"\" rel=\"noopener\">Oman<\/a>, and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/f32cf6e4-11cc-47c8-ae15-88b8f65d72ad\" style=\"\" rel=\"noopener\">Jordan<\/a> are similarly stepping up efforts to tap into the clean energy source.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/adnoc\/\">ADNOC<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/district-cooling\/\">district cooling<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/geothermal\/\">GEOTHERMAL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/tabreed\/\">Tabreed<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/water\/\">water<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81033\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"81033\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">GREEN AMMONIA<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/\">\r\n                            Egyptian companies are reportedly looking to invest USD 1.2 bn in SCZone green ammonia plant                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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plant&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/&title=Egyptian companies are reportedly looking to invest USD 1.2 bn in SCZone green ammonia plant\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Egyptian+companies+are+reportedly+looking+to+invest+USD+1.2+bn+in+SCZone+green+ammonia+plant+https%3A%2F%2Fenterpriseam.com%2Fclimate%2F2023%2F12%2F05%2Fegyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81034\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/172-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"172.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/172.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81033\" class=\"content-area-description single-story post-81033 post type-post status-publish format-standard has-post-thumbnail hentry category-green-ammonia tag-egypt tag-enterpriseclimate tag-green-ammonia tag-green-hydrogen wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.8ba3e1f7-11b9-498f-b8c3-1149d44aa7a8.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More investment for Egypt\u2019s burgeoning petrochemicals sector: <\/strong>A consortium of three Egyptian companies are considering investing USD 1.2 bn into the first phase of a plant in the Suez Canal Economic Zone (SCZone) to produce ammonia from green hydrogen, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/57735\/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%AD%D9%83%D9%88%D9%85%D9%8A-%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%B3%D8%B9%D9%89-%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-12-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%A3%D9%85%D9%88%D9%86%D9%8A%D8%A7-%D9%85%D9%86-%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing people with knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s investing? <\/strong>Asharq\u2019s sources say the companies are Helwan Fertilizers, Abu Qir Fertilizers and the National Bank of Egypt subsidiary Al Ahly Capital Holding. The three firms <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8dda647-67d3-430a-a518-b79805765cb2\" style=\"\" rel=\"noopener\">established a joint venture<\/a> called Misr Methanol and Petrochemicals (MMP) in 2021 to invest USD 1.6 bn in a methanol and ammonia plant. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More about the SCZone project: <\/strong>The plant will produce 1 mn tons of methanol and 400k tons of ammonia annually \u2014 a portion of which will be exported \u2014 in the SCZone\u2019s Ain Sokhna site. Construction of the plant will break ground by the end of 2025 and will take three years to complete, the outlet reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Funding the ammonia production: <\/strong>The joint operation will turn to banks to provide 70% of the required investments, with the three shareholders providing the remaining 30%, the sources told Asharq, without detailing which banks could be in line to supply the funds. Asharq\u2019s sources did not confirm if the investments will be made via MMP. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-ammonia\/\">GREEN AMMONIA<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81035\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"81035\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">ALSO ON OUR RADAR<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/sonelgaz-and-john-cockerill-to-partner-on-green-hydrogen-and-faraday-future-joins-abu-dhabis-savi-cluster\/\">\r\n                            Sonelgaz and John Cockerill to partner on green hydrogen and Faraday Future joins Abu Dhabi\u2019s SAVI cluster                        <\/a>\r\n                    <\/h3>\r\n\r\n             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             <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2230.jpeg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"81036\" data-permalink=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/sonelgaz-and-john-cockerill-to-partner-on-green-hydrogen-and-faraday-future-joins-abu-dhabis-savi-cluster\/2230-jpeg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2230.jpeg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"2230.jpeg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2230.jpeg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2023\/8\/2230.jpeg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81035\" class=\"content-area-description single-story post-81035 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-algeria tag-also-on-our-radar tag-enterpriseclimate tag-green-hydrogen tag-sonelgaz wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.c3602ca1-6dba-487f-8184-1c9a0e2455b6.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN HYDROGEN-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sonelgaz <\/strong><strong>+ John Cockerill explore a hydrogen collab:<\/strong> Algerian state-owned gas company Sonelgaz and Belgian mechanical engineering group John Cockerill are exploring cooperation agreements on green hydrogen, wind turbines' maintenance, and storage, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Sonelgaz.energy.dz\/posts\/pfbid0BLwPjjDGTYieeJfhUB6KVswDnH9qR6RSBEoQj2qdETKHJ9xrru8NtHhmC5HkcRSzl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Not the first green project in the region for John Cockerill: <\/strong>The Belgian group signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/597f2528-d18c-46f1-bfd4-28b3723c4272\" style=\"\" rel=\"noopener\">an agreement<\/a> with UAE's Adnoc in June to manufacture <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/597f2528-d18c-46f1-bfd4-28b3723c4272\" style=\"\" rel=\"noopener\">hydrogen electrolyzers<\/a> for local use in the UAE and export. The group also signed <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/0ba2af13-c4b1-43e4-8e0e-41df845c0933\" style=\"\" rel=\"noopener\">an agreement<\/a> with an unnamed Moroccan energy company to develop a value chain dedicated to undertaking green hydrogen projects in January.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GREEN MOBILITY-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>One more addition to <\/strong><strong>Abu Dhabi's SAVI cluster:<\/strong>California-based global shared intelligent electric mobility ecosystem company Faraday Future (FF) is working with the Abu Dhabi Investment Office (ADIO) to introduce its generative AI and advanced intelligent electric vehicle capabilities to the Smart and Autonomous Vehicles Industry (SAVI) cluster, according to a <a target=\"_blank\" href=\"https:\/\/app-us.ff.com\/ff-v3\/news\/684?lang=en-US\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bigger plans for the region? <\/strong>FF is looking to establish its regional headquarters as well as a manufacturing facility and an advanced research and development (R&D) center focusing on next-generation electric vehicle and AI technology in Abu Dhabi to further expand its presence in the market. The company and the ADIO are also developing regulatory frameworks to enhance the creation of advanced smart autonomous vehicle solutions and applications.<\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/algeria\/\">Algeria<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/green-hydrogen\/\">green hydrogen<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/climate\/tag\/sonelgaz\/\">Sonelgaz<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"81037\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/81037\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-81037\" class=\"content-area-description single-story post-81037 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding-top:0pt;margin:0;padding-left:0;padding-bottom:17pt;line-height:1.15;orphans:2;widows:2;text-align:left;padding-right:0\"><span style=\"font-weight:700\">NOVEMBER 2023<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>30 November - 12 December (Thursday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/unfccc.int\/\" style=\"\">Conference of the Parties (COP 28)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2023<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1-10 December (Friday-Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abudhabisustainabilityweek.com\/en\/media\/news\/adsw-sets-out-bold-global-climate-action-agenda-at-cop28\" style=\"\">Abu Dhabi Sustainability Week COP28 Special Edition<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>3-7 December (Sunday- Thursday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qu.edu.qa\/sites\/en_US\/about\/events\/The-Third-International-Congress-of-Engineering-and-Technology-%E2%80%93-ICET%E2%80%932023\" style=\"\">International Congress of Engineering and Technology (ICET)<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\" style=\"\">Saudi Green Initiative Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4 December (Monday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/abudhabisustainabilityweek.com\/en\/Media\/News\/ADSW-to-Host-Special-Edition-at-COP28\" style=\"\">Abu Dhabi Sustainability Week (ADSW)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-7 December (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/wam.ae\/en\/details\/1395303210320\" style=\"\">International Conference on Global Warming<\/a><\/span><span style=\"font-weight:400;\">, Ras Al Khaimah, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>6-7 December (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/events.reutersevents.com\/energy-transition\/energy-mena?gad=1&gclid=CjwKCAjwp8OpBhAFEiwAG7NaEkLySAaI28xtTFfTJpxpdId4Xty5U8JBg8CGmDkjoI7AEv9U5WtmQBoCxdcQAvD_BwE\" style=\"\">Reuters\u2019 Energy Transition MENA Conference<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>7-8 December (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/fii-institute.org\/conference\/priority-asia-in-hong-kong\/#section-236-345\" style=\"\">Future Investment Initiative (FII) Priority<\/a><\/span><span style=\"font-weight:400;\">, Hong Kong.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>8 December (Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/masdar.ae\/Strategic-Platforms\/Youth-4-Sustainability\/Youth-4-Sustainability-Hub\" style=\"\">Youth for Sustainability Forum (Y4S)<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ghseoman\/\" style=\"\">Green Hydrogen Summit Oman<\/a><\/span><span style=\"font-weight:400;\">, Muscat, Oman.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-20 December (Monday-Wednesday):<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/saudi-sg.com\/en\/\" style=\"\">Saudi Arabia Smart Grid Conference<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JANUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>9-11 January (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.futuremineralsforum.com\/\" style=\"\">Future Minerals Forum<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FEBRUARY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-28 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/conferences.uaeu.ac.ae\/warms2024\/en\/index.shtml\" style=\"\">Management and Sustainability of Water Resources<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MARCH 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>4-6 March (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/dust.ncm.gov.sa\/register\/\" style=\"\">International Conference on Sand and Dust Storms in the Arabian Peninsula<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>16-18 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfutureenergysummit.com\/\" style=\"\">World Future Energy Summit<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>23-25 April (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mena.gh2events.com\/\" style=\"\">Connecting Green Hydrogen MENA<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">MAY 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>19-21 May (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudienergyconvention.com\/\" style=\"\">Saudi Energy Convention<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5 June (Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unep.org\/news-and-stories\/press-release\/saudi-arabia-host-world-environment-day-2024-focus-land-restoration\" style=\"\">World Environment Day<\/a><\/span><span style=\"font-weight:400;\">, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>10-12 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/aemobforum.com\/\" style=\"\">Autonomous E-Mobility Forum<\/a><\/span><span>, Doha, Qatar. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER 2024<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>2-13 December (Monday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.unccd.int\/news-stories\/notifications\/sixteenth-session-unccd-conference-parties-cop-16-riyadh\" style=\"\">Conference of the Parties (COP16) to the United Nation Convention to Combat Desertification<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, KSA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2024 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Early 2024: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/us-algeria-energy-and-investment.org\/\" style=\"\">The 2023 US Algeria Energy Forum<\/a><\/span><span style=\"font-weight:400;\">, Washington DC, USA.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>12-14 February (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.safcongressmena.com\/\" style=\"\">Sustainable Aviation Futures MENA Congress<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End-2024: Emirati <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/ar.ae\" style=\"\">Masdar<\/a><\/span><span>\u2019s 500 MW wind farm in Uzbekistan to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/13a804af-a659-4152-82b2-a3c920862f2b\" style=\"\">begin commercial operations<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\" style=\"\">QatarEnergy<\/a><\/span><span>\u2019s industrial cities solar power project <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/afa55bc3-dec6-4f46-b806-25518b05cda1\" style=\"\">will start electricity<\/a><\/span><span style=\"font-weight:400;\"> production. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iucn.org\/our-union\/iucn-world-conservation-congress\" style=\"\">International Union for Conservation of Nature World Conservation Congress<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/9ec60000-0539-4d85-baf5-5beaf020a34f\" style=\"\">have over 1k<\/a><\/span><span style=\"font-weight:400;\"> EV charging stations installed. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>26-29 October (Monday-Thursday):  <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.spa.gov.sa\/en\/N2002883\" style=\"\">World Energy Congress<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/uitpsummit.org\/\" style=\"\">UITP Global Public Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/04\/19\/imf-and-the-world-bank-group-to-hold-2026-annual-meetings-in-bangkok-thailand\" style=\"\">Annual Meetings of the World Bank and the International Monetary Fund<\/a><\/span><span style=\"font-weight:400;\">, Bangkok, Thailand.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>1Q 2026: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.qatarenergy.qa\/en\/Pages\/Home.aspx\" style=\"\">QatarEnergy<\/a><\/span><span>\u2019s USD 1 bn blue ammonia plant <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\" style=\"\">to be completed<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>End-2026: HSBC Bahrain to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a2ead528-71fb-423b-a6f8-e18b2c9897d8\" style=\"\">eliminate single-use<\/a><\/span><span style=\"font-weight:400;\"> PVC plastic cards. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>MENA\u2019s district cooling market is <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/59376411-8296-47dc-87cc-43ddc792bba4\" style=\"\">expected to reach<\/a><\/span><span style=\"font-weight:400;\"> USD 15 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2030 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE\u2019s Abu Dhabi Commercial Bank (ADCB) wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\" style=\"\">provide AED 35 bn<\/a><\/span><span style=\"font-weight:400;\"> in green financing. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>UAE <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a9c832ed-f423-479e-884d-90cabefe3a0b\" style=\"\">targets 14 GW<\/a><\/span><span style=\"font-weight:400;\"> in clean energy capacity.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Tunisia <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7c5659c7-cf17-4cd6-9d18-c8afb5c643fb\" style=\"\">targets 30%<\/a><\/span><span style=\"font-weight:400;\"> of renewables in its energy mix.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Qatar wants to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/7881b1d2-724a-4914-ba85-0545e72901c9\" style=\"\">generate USD 17 bn<\/a><\/span><span style=\"font-weight:400;\"> from its circular economy, creating 9k-19k jobs. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Morocco\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/xlinks.co\/morocco-uk-power-project\/\" style=\"\">Xlinks<\/a><\/span><span> solar and wind energy project to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/52aefc63-82e3-42e3-8afc-960461fa5288\" style=\"\">generate 10.5 GW<\/a><\/span><span style=\"font-weight:400;\"> of energy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2035 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Qatar to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/77469f6c-f938-4a97-8cac-3146b39b6cbe\" style=\"\">capture up to 11 mn tons<\/a><\/span><span style=\"font-weight:400;\"> of CO2 annually. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2045 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Qatar\u2019s Public Works Authority\u2019s (Ashghal) USD 1.5 bn sewage treatment facility to reach 600k cm\/d capacity. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2050<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Presidencedugouvernementtunisien\/posts\/pfbid02urYKuUDF91i7dtVRR3yrSFzM4p5aG1JUormqfgnbjuUMTSGzmL2DrY8Z7wyfA7vBl?locale=ar_AR\" style=\"\">Tunisia\u2019s carbon neutrality target<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">2060 <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>Nigeria aims to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ea65a4f2-e77c-426b-8ad0-9120704954f6\" style=\"\">achieve its net-zero<\/a><\/span><span> emissions target.<\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>UAE banks to mobilize big climate finance funds | UAE\u2019s ENEC inks several nuclear agreements | We chat with IFC\u2019s Global Director for Climate Business Jamie Fergusson<\/p>\n","protected":false},"featured_media":81020,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-81019","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"7a795186-a97a-49e7-ab45-c4f9238a2c5d","teaser":"UAE banks to mobilize big climate finance funds | UAE\u2019s ENEC inks several nuclear agreements | We chat with IFC\u2019s Global Director for Climate Business Jamie Fergusson","photo_url":"https:\/\/ent.news\/2021\/9\/3262.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The UAE banking sector to mobilize AED 1 tn in climate finance by 2030 - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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